The average cost of individual U.S. term life insurance may be only about 1% lower in 2008 than it has been this year, according to the Insurance Information Institute.

Because of improving life expectancy figures and falling death rates for working-age Americans, term life rates fell about 15% per year between 1994 and 1999, and they have fallen an average of about 4% per year since 2000, researchers at the III, New York, report.

This year, individual rates are about half of what they were in 1995, the III says.